WTI 20Jun

Tuesday’s Auction

As noted in Mon’s analysis, the focus into Tue’s auction on response to Mon’s Unsecured Low, 44.32s, was key as Globex selling interest drove price through Mon’s Unsecured Low in Sellside continuation, developing a Gap Lower open, 43.34s, near our Avg Daily Range Low Expectation. Selling interest emerged early in NY, confirming the Gap, driving price modestly lower, achieving the Stopping Point Low, 42.94s, at the 1st Std Dev Low Expectation. Responsive buying interest emerged there, driving price higher in short covering inventory adjustment, closing at 43.51s.

Focus into Wed’s auction on response to Tue’s Stopping Point Low, 42.94s.